BUYER: Freeman & Hasselwander Resort Properties LLC (principals: Francis Freeman Jr. and Bradley Hasselwander), Cape Coral
SELLER: Tarpon Land LP
PROPERTY: 5951 Silver King Blvd. and additional property, Cape Coral
PRICE: $45 million
LAW FIRM ON DEED: White & Case LLP, Miami
PLANS, DESCRIPTION: A company led by Mountain Home, Ark., businessmen Bradley Hasselwander and Francis Freeman Jr. purchased the 267-unit The Resort at MarinaVillage, 57 condominium units in Tarpon Landings, and two undeveloped land parcels for $45 million.
The 19-story waterfront resort features 175 boat slips, 25,000 square feet of meeting space and several retail suites leased to a deli, various stores and a spa. The facility also includes an upscale restaurant and bar, fitness center, sun decks, and outdoor pools.
As of deadline, not much was known about the real estate background of the buyers except for reports that they had owned a number of luxury hotels across the country.
The new ownership has retained SunStream Hotels and Resorts to manage the resort.
“They're looking at growing the business down here,” says Kyle Johnson, general manager of The Resort at MarinaVillage. “We're looking at adding services and potentially another restaurant to the property. Right now, we are still in the planning stages for a lot of this stuff. Our goal is to become the premier resort location in Southwest Florida, and Lee County specifically.”
Earlier this year, lender SNSPF Interim Finance B.V. took possession of the property, along with Bell Tower Park and a Bonita Springs rock mine, as part of a $340 million (debit) foreclosure.